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Stapular Garment Enterprise (SGE) is a retailer operating in Kulim, Kedah. SGE uses the perpetual inventory method. Assume there are no credit transactions; all amounts

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Stapular Garment Enterprise (SGE) is a retailer operating in Kulim, Kedah. SGE uses the perpetual inventory method. Assume there are no credit transactions; all amounts are settled in cash. You are provided with the following information for SGE, for the month of January 2020. January 1 January 2 January 6 January 9 January 10 January 23 January 30 Opening inventories 160 units @ RM20.00 Purchase 100 units @ RM22.00 Sale 180 units @ RM40.00 Purchase 75 units @ RM24.00 Sales 50 units @ RM45.00 Purchase 100 units @ RM25.00 Sale 130 units @ RM48.00 Required: Determine the cost of goods sold and the ending inventory using; 1) FIFO (First in, first out) 2) LIFO (Last in, first out)

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